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MARVIN MANDEL, Governor 1337
hereby repealed; and that Sections 9C(b), (f), and (k) of
said Article, Title, and Code be and they are hereby
repealed and reenacted, with amendments; and that new
Sections 9C(f-2) , (j-1) , (0-1), and 19(a) (10) be and they
are hereby added to said Article, Title, and Code to read
as follows:
Article 81 — Revenue and Taxes
9C.
(b) In Allegany County, (1) from county taxation
only, real and tangible personal property, owned directly
or indirectly by any bona fide labor union or unions, or
by any corporation whose capital stock is exclusively
owned by any bona fide labor union or unions, when such
property is used solely for the mutual benefit of its
members and not for profit, except that any part of such
property which is commercially rented shall be taxable to
the extent of the commercial use on the fair value of the
rented property; (2) FROM COUNTY TAXATION ONLY, tangible
personal property owned by nonprofit television broadcast
translator stations, which are supported principally by
public subscription; (3) from county taxation only, real
property owned by a religious organization, which
property is located in La Vale and is leased to the La
Vale Athletic Association for the purpose of conducting
athletic and recreational programs for youth, but only
when this property is used solely and exclusively for the
above purpose; [and] (4) FROM COUNTY AND CITY TAXATION,
REAL AND TANGIBLE PERSONAL PROPERTY OWNED BY THE SOUTH
CUMBERLAND BUSINESS AND CIVIC ASSOCIATION, INC., AND
KNOWN AS THE SOUTH CUMBERLAND CIVIC CENTER; (5) FROM
COUNTY AND SPECIAL DISTRICT TAXATION ONLY, REAL AND
TANGIBLE PERSONAL PROPERTY OWNED BY THE CRESAPTOWN CIVIC
IMPROVEMENT ASSOCIATION, INC.; AND (6) from county
taxation only, real property on which improvements have
been made to historic and architecturally significant
structures as certified by the Allegany County
Commissioners[. So as], IN ORDER to encourage improvement
and reconstruction of those properties, all to be done
according to the following schedule;
(i) The property shall be exempt from
RECEIVE A CREDIT AGAINST real estate taxation to the
extent of 100[%] PERCENT of the increase in assessed
valuation of the property attributable to he
reconstruction and improvement. This exemption CREDIT
shall occur in the first and second taxable years in
which the improved structure is subject to taxation.
(ii) For the third taxable year in which the
improved structure is subject to taxation, the exemption
CREDIT shall be to the extent of 80[%] PERCENT of the
increase in assessed valuation of the property
attributable to that reconstruction.
(iii) For the fourth taxable year in which the
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